BioMarin Pharmaceutical Inc. (BMRN) Price Target Raised to $124.00 at Credit Suisse Group
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) had its price objective increased by research analysts at Credit Suisse Group from $114.00 to $124.00 in a report issued on Thursday. The firm presently has an “outperform” rating on the biotechnology company’s stock. Credit Suisse Group’s target price points to a potential upside of 39.92% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Cowen and Company reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 11th. Deutsche Bank AG reissued a “buy” rating and issued a $119.00 target price (up previously from $118.00) on shares of BioMarin Pharmaceutical in a report on Thursday, August 3rd. Leerink Swann reissued a “buy” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 18th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $115.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, July 14th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $107.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, August 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. BioMarin Pharmaceutical currently has a consensus rating of “Hold” and a consensus target price of $109.83.
Shares of BioMarin Pharmaceutical (BMRN) traded up 0.02% during trading on Thursday, reaching $88.64. 442,968 shares of the company traded hands. The company has a 50-day moving average of $92.56 and a 200-day moving average of $90.07. BioMarin Pharmaceutical has a 12 month low of $78.42 and a 12 month high of $100.51. The stock’s market capitalization is $15.54 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The business had revenue of $317.50 million during the quarter, compared to analysts’ expectations of $311.41 million. During the same quarter in the prior year, the business posted ($2.61) earnings per share. BioMarin Pharmaceutical’s revenue was up 5.8% compared to the same quarter last year. Analysts forecast that BioMarin Pharmaceutical will post ($0.72) earnings per share for the current fiscal year.
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In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $91.26, for a total transaction of $342,225.00. Following the transaction, the director now directly owns 19,660 shares in the company, valued at approximately $1,794,171.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Henry J. Fuchs sold 15,000 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $90.50, for a total value of $1,357,500.00. Following the transaction, the insider now owns 141,422 shares in the company, valued at $12,798,691. The disclosure for this sale can be found here. In the last three months, insiders sold 40,686 shares of company stock valued at $3,736,318. 1.85% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the business. Swiss National Bank lifted its stake in BioMarin Pharmaceutical by 3.6% during the 2nd quarter. Swiss National Bank now owns 631,600 shares of the biotechnology company’s stock valued at $57,362,000 after acquiring an additional 22,200 shares in the last quarter. Aperio Group LLC lifted its stake in BioMarin Pharmaceutical by 9.7% during the 2nd quarter. Aperio Group LLC now owns 56,491 shares of the biotechnology company’s stock valued at $5,131,000 after acquiring an additional 5,006 shares in the last quarter. Prudential Financial Inc. lifted its stake in BioMarin Pharmaceutical by 2.9% during the 2nd quarter. Prudential Financial Inc. now owns 145,170 shares of the biotechnology company’s stock valued at $13,185,000 after acquiring an additional 4,026 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in BioMarin Pharmaceutical by 21.7% during the 2nd quarter. Eagle Asset Management Inc. now owns 306,353 shares of the biotechnology company’s stock valued at $27,822,000 after acquiring an additional 54,675 shares in the last quarter. Finally, Comgest Global Investors S.A.S. lifted its stake in BioMarin Pharmaceutical by 49.1% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 24,000 shares of the biotechnology company’s stock valued at $2,180,000 after acquiring an additional 7,900 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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